Stripe Payments has announced that it has launched a cross-border payment service for its customers in the United States.
The feature, which is still being tested, will allow U.S. customers to transfer and pay money in their home currency to 33 other supported countries/regions, all from Europe and Asia Pacific.
“Cross-border payments allow users to pay sellers, freelancers, content creators and service providers in local currency,” Stripe says. Users can transfer funds through existing platform accounts and fee configurations to affiliated accounts in other countries. “
Stripe did not disclose whether there were transaction restrictions on cross-border transfers, but noted that the process of advising cross-border payments varies from country of destination.
Founded in 2010 and headquartered in California, Stripe quickly conquered the payment market and rapidly expanded worldwide by providing API-based payment services to individuals and businesses in their online stores and many other platforms.
The Stripe platform is now available in 42 countries, but only a few have pre-access rights.
Stripe, one of the most popular online payment solutions, allows businesses and individuals to easily and securely receive online payments. Stripe’s online payment API provides services such as technology, banking infrastructure, fraud prevention, and application integration to create a secure and seamless payment experience for online shoppers.
Stripe integrates almost all of the leading e-commerce platforms, including Shopify, Big Commerce and Squarespace, making it the easiest and most convenient payment solution for many cross-border merchants.
It is understood that Stripe’s greatest success is that the product characteristics are very clear, because the market customer base is targeted and easy to use across platforms, for small and medium-sized start-ups to offer custom payment solutions, but also to achieve the conversion of international currency payments (core), which is sufficient to make stripe payments a huge influence on Paypal payments.
Stripe processes hundreds of billions of dollars a year in payments and settlements for many large Internet companies, including Amazon, Airbnb, Uber, Apple and Facebook.
Stripe is supported by major technology venture capital firms such as Andreessen Horowitz, Sequoia Capital, General Catalyst and Tiger Global Management.
The company is growing fast as more bricks-and-mortar retailers use online credit CARDS to make purchases.